How to avoid real estate fraud when buying an apartment in Turkey
How to avoid real estate fraud when buying an apartment in Turkey. The real estate market in Turkey has gained a reputation for being the most guaranteed investment sector. Therefore, many Arab and foreign investors move towards buying properties in Turkey. However, due to the huge demand, investors have become a target for exploiters and scammers who seek to deceive them. Therefore, in this article from Ebla Real Estate, we will talk about how to avoid real estate fraud when buying an apartment in Turkey.
What is real estate fraud?
Real estate fraud is an organized process in which a person or company takes advantage of the buyer’s or investor’s lack of knowledge of real estate ownership laws in Turkey, steps to buy a property, or real estate prices in Turkey, to offer unreasonable attractive offers to entrap the investor and sometimes the property owner in their tricks.
Moreover, the scammer makes illogical offers and in the event that the buyer does not have sufficient experience and is not familiar with the legal procedures that must be completed before the purchase process, he falls victim to this fraud.
Real estate fraud has recently become active thanks to social media sites, which the real estate fraud has made as a trap for those making searches for a property for sale in Turkey.
How to avoid real estate fraud when buying an apartment in Turkey?
- Be familiar with the Turkish real estate market and the laws of real estate investment in Turkey.
- Moreover, do not share important personal information with untrustful persons.
- Verify the identity of the real estate marketer and ensure that he obtains official identification papers to practice the profession.
- Consult an engineer who can verify the specifications of the property if it matches the terms agreed upon in the event the purchase was made on the scheme.
- Additionally, consult an accredited real estate company in Turkey.
- Study the real estate appraisal document.
- In addition, do not pay the down payment except with documented legal guarantees or within the concerned departments. This is how to avoid real estate fraud when buying an apartment in Turkey.
Beware of real estate fraud when buying an under-construction apartment in Turkey:
Certainly, the process of buying a property under construction in Turkey or elsewhere can save a lot of money for the buyer. However, the purchase is risky. To avoid real estate fraud when buying an under-construction apartment in Turkey, you must:
- Ensure that companies do not invest buyers’ money in order to construct the building.
- To buy from well-known construction companies.
- Verify the building permit and its details.
- Obtain guarantees from the construction company.
- It is better to hire a lawyer or deal with a real estate company.
Thus, we talked about how to avoid real estate fraud when buying an apartment in Turkey.
Edited by: Ebla Group Real Estate
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